OP&F Investment notes, January 2026

Portfolio value: The OP&F portfolio was valued at $21.84 billion as of Jan. 27

Board approves commitment to Private Credit fund

The OP&F Board approved a commitment of up to $50 million to Audax Direct Lending Solutions Fund III-A (Levered Fund) during the Jan. 28 meeting. Audax has a focus on North American opportunities and concentrates on core middle market investments in a variety of industries.

OP&F’s Private Credit portfolio is valued at $685 million, or 3.2 percent of the total investment portfolio.

Private markets commitment approved

At its Jan. 28 meeting, the OP&F Board approved a commitment of up to $15 million to Francisco Partners Agility Fund IV. The fund targets opportunities primarily in North America, specifically middle market technology and tech-enabled services. OP&F also has invested in Francisco Partners III, IV, VI, VII and VIII.

OP&F’s Private Markets portfolio is valued at $1.45 billion, or 6.9 percent of the total investment portfolio.

Posted 1/29/2026